Florida Real Estate Blog

Ft. Myers, Naples, Florida MLS

Well it's finally here! The time has come to own and not rent real estate in Ft.Myers or Naples Florida. Recent studies are showing that with the decline in property values and low mortgage rates, it is now in your best interest to buy a home versus rent a home. There was a difference in average monthly payments of over 700. dollars on average and now it is more like 200. dollars and, since mortgage payments are tax deductible, you do the math.

Obama has recently stated that he is looking to do a rental program with foreclosures so as to keep people in their homes and have many home remain occupied. There are a glut of empty homes in Lee county and collier county Florida. This new program would help with that situation. It is unclear how or if this is even viable as Banks would now be in the real estate business as landlords and with lower values on homes, is this really sustainable. Do those folks who have had their homes taken from them really want to stay in them.

The mortgage modification programs and incentives that had been introduced seem to me dismal failures. With home values in Ft Myers and Naples MLS showing considerable declines in values, how can you re finance what you owe more on? You Cannot. There in lies the problem with loan mods.

Commercial real estate in Ft Myers and Naples is in horrible condition and to be truthful, there is not end in sight. REO Commercial Brokerage is now busy helping lenders to handle their commercial owners through major default rates and in turn are finding themselves trying to manage commercial buildings with multiple tenants and multiple property management issues as well.

Cape Coral Florida has just had a major defeat in trying to expand it's water and sewer efforts as the people of Cape Coral have voted no on a referendum that would have cost many people in the Cape over 17,000. per household. Good news for new buyers but what to do about water and sewer? Bad planning is a key word.

Homes sales in Ft Myers mls and Naples MLS have soared since this time last year and sales are up over 120 percent. A great sign for recovery albeit a slower recovery that what was thought initially. Any questions? Call us today and thank you..

posted by Vincent Napoleon at Permanent Link